PUNE, India, April 4, 2018 /PRNewswire/ --
The report "Agricultural Microbials Market by Type (Bacteria, Fungi, Virus, and Protozoa), Function (Soil Amendment and Crop Protection), Crop Type (Cereals & Grains, Oilseed & Pulses, and Fruits & Vegetables), Mode of Application, Formulation, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to reach USD 6.01 Billion by 2022, from USD 3.09 Billion in 2017, at a CAGR of 14.21% during the forecast period. The market is driven by factors such as the rise in the adoption of integrated pest management (IPM) practices across the globe, reduced development cost of microbials in comparison to conventional chemical pesticides, target specificity associated with microbial pesticides, the rise in organic farming practices, and an increase in the demand for residue-free crop protection products.
Browse 112 market data Tables and 39 Figures spread through 191 Pages and in-depth TOC on "Agricultural Microbials Market"
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Bacteria is estimated to be the most widely used type of agricultural microbials.
Bacteria are considered as the most diverse domain of microorganisms that provide stability to the soil. Bacillus thuringiensis (Bt) occurs naturally in the soil and has been used for more than 50 years for pest control, worldwide. Bacteria are also essential for decomposing organic matter and recycling old plant material and fixation of atmospheric nitrogen into the soil. Strains of Azotobacter, Cyanobacteria, and Rhizobium are used as biofertilizers.
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Bionematicides is projected to be the fastest-growing segment during the forecast period.
The bionematicides segment is projected to register the highest growth rate from 2017 to 2022. Recent awareness among growers about the crop losses from nematode infections on horticulture as well as cereal crops and positive results obtained from the use of bionematicides has augmented the demand for these products. It has resulted in the increased focus of crop protection companies on new product developments and commercialization of bionematicides.
North America is projected to dominate, while Europe is projected to be the fastest-growing market for agricultural microbials through 2022.
North America is estimated as the largest consumer of agricultural microbials, owing to its highly streamlined product registration process, which makes it easier for most private companies to launch their products easily. The reduced data requirements and the development of modified test technologies in the US have resulted in significantly lower registration costs and timeline. Additionally, factors such as growth in organic farming, entrepreneurial farmers, and efficient infrastructure are the key competitive advantages for the North American market.
The market for agricultural microbials in the European region is projected to grow at the highest CAGR from 2017 to 2022, owing to the increasing number of bans on chemical products in European countries and the organic farming culture prevailing in this region.
The report Agricultural Microbials Market includes a study of marketing and development strategies, along with the product portfolios of leading companies. It also includes the profiles of leading companies such as BASF (Germany), Bayer (Germany), Monsanto BioAg (US), BioWorks (US), Certis (US), Marrone Bio Innovations (US), Koppert (Netherlands), Arysta LifeScience (US), Valent BioSciences (US), Isagro (Italy), Syngenta (Switzerland), and DowDuPont (US).
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